Anduro, a platform designed by Marathon Digital Holdings to create multiple sidechains on the Bitcoin network has Incorporated the Portal decentralized exchange (DEX) network, now rebranded as Portal to Bitcoin. This integration aims to significantly enhance Bitcoin’s functionality and utility.
Marathon, a publicly-traded firm, initiated support for Anduro in February, envisioning it as a platform leveraging the Bitcoin network for creating multiple sidechains.
The collaboration with the San Francisco-based fintech firm DEX coincides with the rebranding of the project to Portal to Bitcoin.
Anduro represents a pioneering platform integrated into the Bitcoin network, facilitating the creation of multiple sidechains. Spearheaded by Marathon but envisioned as community-driven, Anduro emphasizes decentralized governance to enhance its reliability and appeal as a developer-centric layer-two solution for Bitcoin.
Marathon is advancing Anduro, with the initial sidechains—Coordinate and Alys—already in development. These sidechains demonstrate Anduro’s versatility, offering solutions such as a cost-effective UTXO stack for the Ordinals community through Coordinate, and an Ethereum-compatible chain for institutional asset tokenization with Alys.
Formerly known as Portal, the company secured a $34 million seed round in March. It leverages Bitcoin’s layer-2 network Lightning for atomic swaps, allowing users to convert assets like ETH into BTC directly.
While common in Ethereum and other blockchains, this practice is relatively new for Bitcoin. Anduro, facilitated by merge-mining, offers miners potential Bitcoin revenue from sidechain transactions, enhancing Bitcoin’s utility and Marathon’s role.
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